Ex-Im Prez Warns Possible Shutdown Would 'Disarm' US Cos.

Law360, New York (April 12, 2012, 8:01 PM EDT) -- The head of the U.S. Export-Import Bank on Thursday warned that domestic producers will quickly lose ground in a competitive global marketplace if his agency is not allowed to continue its lending operations to purchasers of U.S. goods and services.

Export-Import Bank President and Chairman Fred Hochberg urged Congress to pass a bill extending the credit agency's lending authority beyond the current May 31 expiration date so as not to “unilaterally disarm American companies just as foreign competition is heating up.”